Alma Platinum IV CQS Asian Macro

Investment Objective

The Investment Strategy is is to generate absolute total returns through the application of a directional discretionary macro strategy, capitalising on investment opportunities driven by the markets and economies of the Asia-Pacific region. The investment objective is to achieve an annualized high single digit returns over the course of a typical business cycle (5–7 years) with ready liquidity and low leverage (typically less than 200% gross notional).

Latest Meeting Note

Meeting 06 Oct 2021

The Alma CQS Asian Macro fund is a discretionary macro strategy focussed on capitalising on investment opportunities arising from markets and economies of the Asia Pacific region (Australia, New Zeland, Japan, India, China and southeast ... Read more

The Alma CQS Asian Macro fund is a discretionary macro strategy focussed on capitalising on investment opportunities arising from markets and economies of the Asia Pacific region (Australia, New Zeland, Japan, India, China and southeast Asia). The fund is run by Geoffrey Baker who joined CQS in 2019 and has been managing the strategy since 2006. His investment approach is contrarian, value-oriented in nature, and combines strategic thinking with tactical trading. For strategic views, the PM uses primarily fundamental data to identify under/overvalued markets (relative to history), cycle analysis, liquidity analysis, and positioning data. Tactical trading is then informed by technical analysis and a set of proprietary “stress indicators” (risk-on and risk-off pairs e.g. Copper vs. Gold), which are monitored on a daily/weekly basis to better understand the current market regime. The final portfolio is fairly focussed, with 2-3 core macro themes at any given time and 10-15 positions, trading highly liquid instruments across asset classes (equities, bonds, currencies, and commodities).

Performance

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC YTD
2022 0.5 0.8 0.5 0.6 1.0 0.4 0.4 0.9 0.1 0.2 0.8 1.0 0.0
2021 0.9 0.7 0.3 0.5 0.3 0.9 0.2 0.7 0.2 0.6 0.6 0.1 1.0

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